Section 49 of the Indian Partnership Act 1932 provides for

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Section 49 of the Indian Partnership Act, 1932 provides for

A. Payment of separate debts of the partners in priority to payment of firm debts out of the partnership assets

B. Payment of firm debts in priority to payment of separate debts of the partners out of the partnership assets

C. Payment of firm debts and the separate debts of the partners simultaneously, out of the partnership assets

D. Payment of firm debts and the separate debts of the partners out of the partnership assets as per the directions of the court

Answer: Option B

This Question Belongs to Law >> Indian Partnership Act

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